The Moscow Arbitration Appeal Court confirms the fines inflicted by the Russian Competition Authority on two undertakings having implemented an anticompetitive agreement (URALSIB / Volkswagen Bank RUS)

Appeal Court agreed that “URALSIB” and “Volkswagen Bank RUS” should pay the imposed fine for an anticompetitive agreement* On 29th July 2014, the 9th Arbitration Appeal Court upheld the judgment of Moscow Arbitration Court on legitimacy of the decision and determination on the case against “URALSIB” OJSC and “Volkswagen Bank RUS” Ltd. violating the antimonopoly law, as well as determinations in imposing fines upon the fact of the violation. Earlier, on 23rd October 2013, the joint Commission of FAS Russia and the Bank of Russia found that “URALSIB” OJSC and

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Russian Competition Authority, The Moscow Arbitration Appeal Court confirms the fines inflicted by the Russian Competition Authority on two undertakings having implemented an anticompetitive agreement (URALSIB / Volkswagen Bank RUS), 29 July 2014, e-Competitions Bulletin July 2014, Art. N° 75618

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